Sochi, Russia is the site of the next Winter Olympics in 2014. City officials plan to build a new multipurpose stadium. The projected cost of the stadium in 2014 dollars is $7.5 million. Assume that it is the end of 2011 and city officials intend to invest an equal amount of money at the end of each of the next three years in an account that will pay 8.75 percent. What is the annual investment necessary to meet the projected cost of the stadium?